VanEck Steel ETF (NYSEARCA:SLX – Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 41,600 shares, a drop of 30.7% from the September 15th total of 60,000 shares. Based on an average daily trading volume, of 28,700 shares, the short-interest ratio is currently 1.4 days. Based on an average daily trading volume, of 28,700 shares, the short-interest ratio is currently 1.4 days.
VanEck Steel ETF Stock Performance
NYSEARCA SLX opened at $77.86 on Friday. The stock has a fifty day moving average of $72.57 and a 200-day moving average of $67.43. The stock has a market capitalization of $115.23 million, a P/E ratio of 14.09 and a beta of 1.35. VanEck Steel ETF has a 52 week low of $51.69 and a 52 week high of $78.00.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new position in shares of VanEck Steel ETF in the 3rd quarter worth $25,000. Private Wealth Asset Management LLC bought a new position in shares of VanEck Steel ETF in the 2nd quarter worth $26,000. Geneos Wealth Management Inc. bought a new position in shares of VanEck Steel ETF in the 3rd quarter worth $30,000. Ball & Co Wealth Management Inc. bought a new position in shares of VanEck Steel ETF in the 3rd quarter worth $69,000. Finally, Griffin Asset Management Inc. bought a new position in shares of VanEck Steel ETF in the 3rd quarter worth $263,000.
VanEck Steel ETF Company Profile
Market Vectors Steel ETF (the Fund) seeks to replicate as closely as possible the price and yield performance of the NYSE Arca Steel Index (STEEL or the Index) by investing in a portfolio of securities that generally replicates STEEL. STEEL, calculated by the NYSE Alternext, is a modified market capitalization-weighted index consisting of publicly traded companies predominantly involved in the production of steel products or mining and processing of iron ore.
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